Palatin Technologies (NYSEAMERICAN:PTN) Earns “Buy” Rating from HC Wainwright

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Price Performance

Shares of NYSEAMERICAN:PTN opened at $0.91 on Tuesday. Palatin Technologies has a 52 week low of $0.68 and a 52 week high of $5.22. The stock has a market capitalization of $17.77 million, a P/E ratio of -0.46 and a beta of 0.90.

Institutional Trading of Palatin Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTN. HB Wealth Management LLC lifted its stake in shares of Palatin Technologies by 86.3% during the 4th quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 51,200 shares during the period. XTX Topco Ltd purchased a new position in Palatin Technologies during the second quarter worth about $29,000. Finally, Virtu Financial LLC acquired a new stake in Palatin Technologies in the 3rd quarter worth about $51,000. Hedge funds and other institutional investors own 11.50% of the company’s stock.

Palatin Technologies Company Profile

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.